Costco stock slips with revenue shy of Street view
Costco Wholesale Corp. shares slipped in the extended session Thursday after the warehouse club's revenue fell just short of the Wall Street consensus. Costco shares declined 1.5% after hours, following a 1.4% rise in the regular session to close at $289.00. The company reported fourth-quarter net income of $1.1 billion, or $2.47 a share, compared with $1.04 billion, or $2.36 a share, in the year-ago period. Costco said results included a charge of 22 cents a share for a product tax assessment. Total revenue rose to $47.5 billion from $44.41 billion in the year-ago quarter. Analysts surveyed by FactSet had forecast earnings of $2.54 a share on revenue of $47.57 billion. Same-store sales for the quarter rose 5.1%, in-line with analyst estimates.
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